BANGKOK, 16 February 2012 - The central bank is worried that an international anti-money laundering agency's possible blacklisting of Thailand may hit the local financial industry significantly.

Mr. Krirk Vanikkul, Deputy Governor of the Bank of Thailand (BoT), has confirmed that Financial Action Task Force on Money Laundering (FATF) has put the country on its Gray list, alongside other countries, including China and Myanmar.

FATF is an inter-governmental body, which develops and promotes national and international policies to combat money laundering and terrorist financing.

Being on the Gray list would not have a significant impact on the country and its financial sector, according to Mr. Krirk.

However, earlier, there has been news about the FATF's plan to move Thailand to the Black list.

According to Mr. Krirk, such a report has not been verified. However, he is worried that if Thailand is moved to the Black list, the punishment may be severe. The BoT Deputy Governor said that, to his knowledge, only a few countries are now on this list.

He stated that the only agency which has the knowledge of the FATF move on Thailand is the Anti-Money Laundering Office (AMLO).